University reaches 15-year deal with Nike, according to sources

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The University of Texas has reached a 15-year deal with Nike, according to the Austin American-Statesman. The Statesman reports the value of the deal is expected to be close to $200 million, making it the biggest shoe and apparel deal in college sports.

The University of Michigan signed a 15-year agreement with Nike over the summer worth $169 million.

Under Armour was expected to be in the bidding for Texas, but the Statesman reported the school canceled it’s meeting with Under Armour on Oct. 4. Even had Under Armour made an offer, Nike would have had the chance to match it.